After -- huge rally on Thursday futures are actually down right now investors are already going from euphoric to skeptical about the European debt deal apparently -- Here to explain it all is the street dot com's Alex steal Alex happy Friday -- happy Friday. Aren't so let's talk about this year at deal first investors cheered an obvious big job in the markets yesterday. Are they skeptical now and why. Yeah I think they are skeptical and I think I hate to say the cliche but the devil will be in the deet tails I think that the main concerns. -- it there's just not enough money to save all the countries that need to be safe -- even if they do leverage increase that bail out by the they have to one trillion euros it's still not enough to cover Greece Italy and Spain if they already has some serious problems for example. Also -- still concerns about Greece is still hasn't received its next to bail out trans. And also even if we do you see bondholders take got 50% -- cuts they're taking a pretty big -- It's not gonna really Megan -- monkey stand for agrees that 200 billion euros it would help is -- much less in the totaled 340 billion euros that they haven't. The total sovereign debt will be reduced only by 30%. So there's a lot of worries that that actually won't be enough. Also we -- banks have increased their capital in the next few months and likely have to cut down on lines and -- governments have to go in and help banks beef up their capital they're gonna cut back on their spending so that contraction worry. It definitely still there. I -- -- from Goldman -- this morning that said -- -- probably satisfy markets in the short term. A long -- is fundamental underlying challenges still remain in the investors they spoke to are still very skeptical. At Mina for the markets today Alex what do you think the budget -- -- to say that yesterday a lot of that was short covering so investors are betting against the -- it got kind of trapped. And had to -- -- stocks really fast a lot that was technical. So in terms to today acting -- very normal profit taking I mean we're poised for the best performance for the S&P since 1974. If you can rally just 2% in the next two days it beats the 1974 records let's really big deal especially after September. Was just. Terrible so there is still a little bit -- that technical trading an interesting note here is that. Up -- -- over 14% in this month that's more than a year's worth the returns sometimes and you have to look at like that. Another note from the spoke it's at said today that an attorney seven months the S&P has risen 10% or more the average return. In the next month it's about one point 4%. So seeing the open market come off a little bit maybe the first couple weeks November -- connoisseur slapping around wouldn't be out of the ordinary don't think that investors' psychology. Is still kind of caught. This. They just yet just looking -- the -- -- humans trading they are still trading above 121000 right now just as psychological -- we talk a lot about -- and I -- -- David let's talk about our economy here -- US we got a report in about consumer spending tell us about it. -- -- got -- come grew up in September about one tense about percent. But spending grew about six tenths of a percent and -- -- personal savings and drops to three point 6% the lowest level since December 2007. OK so what does that mean. It means that people are spending spending more making less and saving less. So I guess you know that's going to be helpful trip for the growth for the US but not for personal savings and definitely not for employment so I think -- -- mixed bag giving consider that consumer spending makes up about 70%. About our economy we also saw this trend in August and we might see this continue. I think an investor is to consumers aren't buying you know flat screen TV you this money into -- -- they actually really needs it and using their -- divorce yeah and that's not really a good sign. Ranked there's about Hewlett-Packard this morning get caught up on the latest break so the new CEO Meg Whitman is -- -- -- they apotheker and not too long ago is actually going to keep the PC business they apotheker was going to -- -- -- that was pretty controversial call investors repent if beyond that. And they couldn't -- -- keep it. So -- two -- a look at. At the first thing -- he hasn't -- in the job that -- comes -- she makes a forceful decision -- -- be bodes well for -- down the road but on the flip -- she was on the forehead when the board -- prudent decision for Leo apotheker -- spin off the PC business and actually switching -- -- you can take -- investors kind of allowed to digest that. Also it means at their tablet Smartphone business is still Boehner it's not -- -- bidding either -- team up with Microsoft he is there outlets as well sell. It means that the club the futures still cloudy but the there it it -- keep trying to -- to winners started trying to eat -- apple in the business apple obviously dominates. Right now that's no one media -- -- interest -- that's great and all American public grant that we think of world cool. It's stock was down as much as 11% in premarket trading this morning tell us what's -- -- this company look different reported disappointing quarter but I think what investors are kind of honing in on its gonna fire about 5000 people. And some of the comments the CEO said we're not that -- -- quote one for you here. At recessionary demand levels in developed countries and high levels of inflation material costs with -- -- reasons for why the company. I didn't do so well in the third quarter those did you think you really don't wanna hear young money -- inflationary recession in the same sentence say that's gonna really -- Platt investors judgment that's not right now you have people really negative on outlook for that company -- -- about Chevron are they going to be a big mover today in the markets you know -- how. Only not even though they report killer -- -- Chevron said they earn about three dollars 92 cents in the past quarter that was vs expectations of three dollars and 47 cents. Together earnings actually account for about twenty cent one time gains -- -- kind of really made three dollars and 72 cents. And revenues were a little light here they brought in about 64 point four million they're looking for almost 68 million but the reason I -- not can be a big mover is because the numbers don't really matter that much for big oil it's all about production growth. And big oil -- doesn't have that kind of -- Sevareid has -- cost cutting. Good refining good asset sales but the mean investors might have to really wait until 2014. For real production -- To really kick in here and there are also announced a 4% dividend increase the other day so that's not gonna -- catalyst for this -- either. -- -- this cases where earnings might not be terrible there might be some good spot in earnings but it's not actually get to make it different than it comes of -- -- -- not going to be a mover today airing what else do you look at today. Well that's going to be looking at -- -- -- what's going on with China and I mean by that. It Christine Nicholas Sarkozy the French president as well head of the bailout -- I don't really like -- China to give it money. And the and at T Financial Times reported today that China could give as much as a hundred billion. Euros to the -- -- and -- -- IMF would give it to this -- -- special vehicle that would then -- all the money out into the struggling European nations so little -- heat and importantly. Will what China -- Maine and minority get them right back what kind of -- -- -- what kind of debt reduction they're really going to be looking back to focusing on that. And it also have to look at next week it's going to be a real easy week not -- Only do -- -- that meeting you also have started to teach money. On Thursday -- a two day meeting in these -- the leaders said that when he nations not just the financial leaders and you bet. At this. And I -- And some earnings and I Internet and -- and tonight starting at Harding and in just coming out next Friday that's -- -- to be key for the US market so it's going to be and net. And nets and busy week next week aren't -- of business news Alix Steel from the street got probably appreciate it Allan thank you thank you.

This transcript has been automatically generated and may not be 100% accurate.

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